A friend of mine had an idea to buy "smaller cell sites" since the larger towers seem to be out of our price range as well as dominated by larger players.

Our main objective is solid cash flow without the headaches. 

Off-site companies may be in the 25-35% range.

Our goal would be to find a property, likely in the 500-900k range, that will cash flow and require potentially some but not extensive remodeling.

Syndicators will pick-up your post and you'll find ones that meet your investment objectives.  

Now, everything is under the name of the LLC.If your objective for establishing the LLC is for asset protection, you really want everything under its name. 

Because they were all sold over a year ago, I don’t think they give a man accurate price range for the current market.

.), geographic considerations (population in the 3 and 5 mile, population growth, rent, occupancy, and cap rate comps, crime statistics, traffic count), sponsor/general partner track record and expertise, asset class considerations (it is possible to invest in an asset class with a small amount of equity that you may have no experience in), master lease, exit strategy (you do not get to control the exit, the general sponsor will trigger the exit based on their goals and objectives).The other thing to consider is that sponsors will sell equity on a first come first serve basis.

I agree with @Pete Harper; I live in half of my duplex here in Killeen, which is a 2:1.5 that was previously rented out for around the $650-675 range when I first bought it.

If you could find a 3/2 SFH above the 210 freeway, the lower end of the price range will be about $600K, but you could rent out your spare rooms to generate about $700 per room.